Bay Area commercial real estate firm Kidder Mathews has moved aggressively into San Diego, acquiring StepStone Real Estate Services, an asset and property management firm, and recruiting eight veteran brokers from local companies.
StepStone has a portfolio of 600,000 square feet of retail, office, and mixed-use properties, and has been providing asset, advisory, and property management services in the San Diego market for 20 years.
Before opening its San Diego office, Kidder Mathews was managing 800,000 square feet of biotech space in La Jolla. The acquisition of StepStone fits with the firm's plan to expand their property management service line, and StepStone's particular strength in retail properties compliments Kidder's retail growth strategy.
The StepStone group joining Kidder Mathews consists of founder and well-known San Diego commercial real estate professional Jack Naliboff, and Kathy Giraldo Carlson, Mark Vallecorsa, and four additional StepStone employees. "The group's expertise will be helpful as we expand further into Orange County and Los Angeles," said Mark Read, Kidder's San Diego managing partner.
Jack Naliboff is an industry veteran with over 30 years in commercial real estate. He will be a partner at Kidder Mathews. Prior to founding StepStone, he was a senior vice president with John Burnham & Company.
Kathy Giraldo Carlson has been named vice president at Kidder Mathews. She has more than 20 years of property and operations management expertise. She previously was with Lincoln Property Company.
Mark Vallecorsa, will be a senior property manager and financial analyst for the firm.
Some of the key projects included in StepStone's 600,000-square foot portfolio are: The Shops at La Jolla Village, a 165,000-square-foot mixed-use project; Coronado Plaza, a 50,000-square-foot mixed-use property;
Bridgeworks, an 18,569-square-foot retail property; and 1Mission, a 24,000 square foot urban mixed-use property.